Ola fires 1400 people as revenue is hit by 95% in the last two months. The trust fund is just an investment vehicle set up by ARK,” the report added. They had a call center which used to do bookings for customers who wanted cabs. Ola, India’s largest ride-hailing start-up, is projected to turn profitable by 2018-19 and rake in $1 billion as profit by 2021, according to an independent agency the company employed to value it. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. 4,897 crores) in FY17 to $406 million (Rs. Revenue and Profits: Ola likes other ride-hailing companies unable to generate profits. Stay on top of your investments. Ola has raised over $3.8 Bn from marquee investors such as SoftBank, Ratan Tata, Hyundai Motor Company, Kia Motors, Sachin Bansal and others. Exclusive industry analysis, provocative insights, & deep dives for Inc42 Plus Members. Currently, Ola has two available paths to its proposed public listing—through the Securities and Exchange Board of India-regulated Innovator’s Growth Platform (IGP) meant for SMEs and startups, or a direct listing on BSE or NSE. is going to go into that (the trust fund). Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked. Last Updated at November 22, 2017 08:47 IST. Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. Mirae Asset Emerging Bluechip Fund Direct-Growth, ICICI Prudential Bluechip Fund Direct-Growth. All rights reserved.For reprint rights. The report, compiled by Jain Ambavat & Associates in March, was part of Ola’s ... Key stories on business-standard.com are available to premium subscribers only. ANI Technologies — the entity running Ola — saw its consolidated revenue rising 60.9 per cent to Rs 2,222.6 crore in the fiscal ended March 2018 from Rs 1,380.7 crore in the previous fiscal. Your browser is currently blocking notification. It makes money through the customer’s trip commission. The company had been earning money on every ride since June 2018. Your session has expired, please login again. Talks of a public listing come at a time when Ola co-founders Bhavish Aggarwal and Ankit Bhati made sweeping changes in the promoter shareholding structure to gain tighter control over ANI Technologies. Ola was also able to trim its losses by 9% as the total expenses were limited to a growth of 6.3%. “Most of the differences on the IPO listing arose between SoftBank, a new incoming Japanese investor, and Mirae Asset Fund, an existing investor… and hence Mirae has got in ARK as a co-investor in the current round... Another investor, Hyundai, also Korea-based, is pushing for an Ola IPO," said the person. You are now subscribed to our newsletters. The Wait Is FInally Over! Like us on Facebook and follow us on Twitter. Ola Business and Revenue Model. It reported a 44% rise in revenue to ₹1,860 crore in the year ended 31 March 2018 from around ₹1,286 crore in the previous year. Revenue Model of Ola. The projections, part of the firm’s valuation report dated March 18, 2017, stated that the firm would achieve a net operating profit after tax of Rs 1,170.49 crore in 2018-19. To cancel, communicate from your registered email id and send the email with the cancellation request to. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. Can Centre-appointed Commission fix Delhi-NCR's pollution crisis? None of the founders’ stake, etc. The company is six years old but it is yet to break even. To cancel, communicate from your registered email id and send the mail with the request to, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). We, however, have a request. To be sure, listing in India is not easy. Times Internet Limited. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". In turn, in FY18 Ola reported a 44% rise in revenue to INR 1,860 Cr from around INR 1,286 Cr in the previous year. According to the documents filed with the Corporate Affairs Ministry, Ola narrowed its standalone losses significantly to Rs 2,676.7 crore, while revenues were up 44.6% to Rs 1,860.6 crore in FY2018 compared to the …

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